Turkey Tourist Arrivals Rise 8.3% in November đ
Turkey saw a 8.3% year-on-year increase in foreign visitor arrivals to 2.73 million in November 2024, driven by growth from Germany, Iran, and Russia, while Tajikistan and Lebanon saw declines.
The increase in foreign visitor arrivals to Turkey, particularly from key markets like Germany, Iran, and Russia, suggests a positive outlook for the tourism industry in the country. This could have a moderate positive impact on the portfolio, which includes exposure to the European market, emerging markets, and some individual stocks like BNP Paribas and Societe Generale that may benefit from increased tourism activity in the region.
Turkish Consumer Confidence Hits 1-ÂŊ-Year High âšī¸
Turkey's consumer confidence index rose to an 18-month high in December 2024, driven by improved expectations about the general economic and financial situation, as well as increased optimism about spending on durable goods, despite a deterioration in assessments of the current household financial situation.
The article provides information about the improvement in Turkey's consumer confidence index, which is a neutral development for the given investment portfolio. The portfolio's exposure to the Turkish market is relatively low (1% each for the UAE and Kuwait markets), and the overall impact on the portfolio is expected to be minimal. The positive sentiment in the Turkish market may have a slightly positive effect on the European and emerging market exposures, but the magnitude of the impact is likely to be small.